View/Open

Petroleum refinery in Manaus. Large amounts of manganese, cassiterite, bauxite, tin, iron ore and gold have been found in the Amazon in recent years, providing the region with new sources of income. Previously, the local economy relied primarily on agricultural products (black pepper, jute, Brazil nuts, cocoa), rubber,
timber and caule. In the Serra dos Carajás (PA) nearly $6 billion have been spent to develop the largest iron ore project in the world. Brazil has become the world's top iron ore exporter and producer and the project is mining not only the region's 18 million tons of iron reserves but also large amounts of copper,
manganese and bauxite. The large Tucuruí hydroelectric dam was built along the Tocantins river (PA) to provide the energy supply for these development projects, and several other dams are being planned or constructed. Thousands of speculators and prospectors have swarmed to the nearby Serra Pelada (PA) where gold extraction has generated enormous revenues, and additional gold rushes have occurred elsewhere in the region. Recently Petrobrás, Brazil's state oil corporation, has announced oil discoveries off the northern coast and is hopeful about finding more deposits in the sedimentary basins in the Amazon region.